Smoke and lava spewing from the Villarrica volcano, as seen from Pucon town in the south of Santiago on Sunday.
Reuters/STRINGER Chile
Good morning! It is jobs week in the US, and ahead of Monday's open here is what you need to know.

Greece's reform list still has not been submitted. Contrary to reports out Friday, a list of Greek reforms has not been completed. Greece's 240 billion euro lifeline has been granted by the country's creditors but not yet given to Greece, as the government must still prove it is working toward strengthening its balance sheet. Greece's three-year yield is up 38 basis points at 20.59%.

Greece's credit rating was cut by Fitch. The announcement came after Friday's close, with the credit rating agency cutting Greece two notches to "CCC," indicating a default is "a real possibility." Fitch analysts noted in a statement: "Lack of market access, uncertain prospects of timely disbursement from official institutions, and tight liquidity conditions in the domestic banking sector have put extreme pressure on Greek government funding."

China eased mortgage rules. The People's Bank of China reduced the required downpayment on a second home to 40% (from 60%) in an effort to revive the property sector. New-home sales have seen year-over-year declines in 13 of the past 14 months. China's yuan added 0.1% to 6.2078.

Japan's industrial production plunged. Monday's reading printed at -3.4% month-over-month, which was well short of the 1.8% MoM decline that was anticipated. The number is the latest headache for the Bank of Japan after last week's inflation reading was zero. Japan's yen is down 0.5% at 119.78 per dollar.

Euro area economic sentiment is at an 8-year high. The European Commission's Confidence Index rose to -3.7 (from -6.7), making for the best reading since the middle of 2007. Economic sentiment was also strong, printing at 103.9, the best since mid-2011. The euro is lower by 0.5% at 119.78.

Best Buy Canada is restructuring. The electronics retailer announced the closing of 66 stores and the rebranding of 65 others. The names of the remaining stores will be changed to Best Buy from The Future Shop. Approximately 500 full-time employees and 1,000 part-time employees have been eliminated. Best Buy will spend about $200 million over the next two years during the restructuring.